Marshall Wace North America L.P. boosted its position in shares of Transocean Ltd. (NYSE:RIG) by 144.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,232,997 shares of the offshore drilling services provider’s stock after buying an additional 728,421 shares during the period. Marshall Wace North America L.P. owned 0.32% of Transocean worth $9,864,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of RIG. Louisiana State Employees Retirement System raised its position in shares of Transocean by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 24,300 shares of the offshore drilling services provider’s stock worth $200,000 after buying an additional 400 shares during the last quarter. State Treasurer State of Michigan raised its position in Transocean by 0.4% in the first quarter. State Treasurer State of Michigan now owns 127,848 shares of the offshore drilling services provider’s stock valued at $1,592,000 after buying an additional 500 shares in the last quarter. Teacher Retirement System of Texas raised its position in Transocean by 1.7% in the first quarter. Teacher Retirement System of Texas now owns 31,059 shares of the offshore drilling services provider’s stock valued at $387,000 after buying an additional 508 shares in the last quarter. Neuberger Berman Group LLC raised its position in Transocean by 4.1% in the first quarter. Neuberger Berman Group LLC now owns 13,315 shares of the offshore drilling services provider’s stock valued at $166,000 after buying an additional 521 shares in the last quarter. Finally, Mason Street Advisors LLC raised its position in Transocean by 1.0% in the first quarter. Mason Street Advisors LLC now owns 53,796 shares of the offshore drilling services provider’s stock valued at $670,000 after buying an additional 542 shares in the last quarter. Hedge funds and other institutional investors own 69.31% of the company’s stock.
Transocean Ltd. (RIG) opened at 7.97 on Friday. The company has a 50-day moving average of $8.27 and a 200-day moving average of $10.42. The company’s market cap is $3.12 billion. Transocean Ltd. has a 52 week low of $7.20 and a 52 week high of $16.66.
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Several research analysts recently commented on the company. Jefferies Group LLC set a $12.00 price target on Transocean and gave the stock a “hold” rating in a research report on Saturday, July 1st. Royal Bank Of Canada reiterated a “sell” rating and issued a $13.00 price target on shares of Transocean in a research report on Monday, May 15th. UBS AG reiterated a “neutral” rating and issued a $12.00 price target (down previously from $15.00) on shares of Transocean in a research report on Friday, May 5th. Barclays PLC lifted their price target on Transocean from $8.00 to $10.00 and gave the stock an “underweight” rating in a research report on Monday, May 1st. Finally, Nomura dropped their price target on Transocean from $8.00 to $7.00 and set a “reduce” rating for the company in a research report on Thursday, August 17th. Ten analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $12.40.
In other Transocean news, CAO Howard E. Davis acquired 40,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was bought at an average cost of $7.32 per share, for a total transaction of $292,800.00. Following the completion of the purchase, the chief accounting officer now directly owns 21,793 shares in the company, valued at $159,524.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by insiders.
Transocean Company Profile
Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.
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